Fourth Quarter 2017 Earnings Conference Call February 28, 2018
|
|
- Dale Sutton
- 6 years ago
- Views:
Transcription
1 Philip Mezey President and Chief Executive Officer Joan Hooper Senior Vice President and Chief Financial Officer Tom Deitrich Executive Vice President and Chief Operating Officer Barbara Doyle Vice President, Investor Relations Fourth Quarter 2017 Earnings Conference Call February 28, 2018
2 SAFE HARBOR Certain matters disclosed that are not statements of historical fact constitute forward-looking statements relating to current or future financial performance, management's plans and objectives for future operations, product plans and performance, management's assessment of market factors, and statements regarding the strategy and plans of the Company. Such forward looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of These statements are not guarantees of Itron's future performance. Viewers are cautioned that all forward-looking statements are subject to a number of risks and uncertainties that could cause the Company's actual results in the future to differ materially from these forward-looking statements. These risks and uncertainties are detailed in the Company's filings with the Securities and Exchange Commission, including its latest 10-K and 10-Q, copies of which may be accessed through the SEC's website at Q Earnings Conference Call 2
3 CONFERENCE CALL AGENDA» CEO Business and Operations Update» CFO Financial Results, Acquisition Synergies, Restructuring Update and 2018 Financial Guidance» Q&A
4 HIGHLIGHTS Business growth and profitability improvements driven by strength in Smart Solutions» Q4 Revenue up 11% YoY and non-gaap EPS up 49% - Strong performance in Electricity segment Consistent growth in smart solution business» Strong Q4 and Annual Free Cash Flow - Annual free cash flow of $142M doubled vs. FY 2016 Standard Technology» Strong backlog of $1.75B at year-end - Q4 17 book to bill of 1.5:1» Completed acquisition of Silver Spring Networks 1/5/18 - Integration is underway and progressing as planned - Positive customer, partner and employee support 62% 53% 47% Q4'15 Q4'16 Q4'17 % of total deliveries Smart Solutions Q Earnings Conference Call 4
5 Q4 17 BACKLOG ~$325 million of customer awards, not yet booked Total book to bill of 1.5:1; Book to bill >1:1 in all segments Additional +$1.2 billion of backlog from Silver Spring Networks acquisition in Q Q3 17 Q4 17 Sequential Change 5 Year Backlog Trend $1,488 $1,750 $1,516 $1,575 $1,652 $1, % CAGR $1,079 $847 $931 $737 $836 $761 $931 $ % CAGR Q3'17 Q4'17 12 Month Backlog Total Backlog Chart in Millions, actual currency rates 1. Backlog amount to be finalized upon completion of purchase accounting and impact of new revenue accounting standard. YE'13 YE'14 YE'15 YE'16 YE'17 12 Month Backlog Total Backlog Q Earnings Conference Call 5 Q Earnings Presentation 5
6 CONSOLIDATED GAAP RESULTS Q4 17 $ in millions (except per share amounts) Q Q Change Revenue $550.8 $ % Change in constant currency +8% Gross margin 31.7% 31.6% +10 bps Operating income $47.2 $ % Operating income margin 8.6% 6.2% +240 bps Net income attributable to Itron, Inc. $1.8 $ % Earnings per share - diluted $0.05 $ % Cash provided by operating activities $76.9 $ %» Revenue growth from strong smart solution deliveries and managed services» Strong Electricity gross margin offset lower Gas and Water margins» Higher operating income and margin reflect increased gross profit and lower restructuring expense» GAAP net income includes a charge of $30M, or $0.77 per share, associated with the U.S. Tax Cut and Jobs Act» Increased cash provided by operations due to improved profitability and changes in working capital Reconciliation of GAAP to Non-GAAP results in Appendix and also available on our website Q Earnings Conference Call 6 Q Earnings Presentation 6
7 CONSOLIDATED NON-GAAP RESULTS Q4 17 $ in millions (except per share amounts) Q Q Change Non-GAAP operating income $54.9 $ % Non-GAAP operating margin 10.0% 9.0% +100 bps Non-GAAP net income attributable to Itron, Inc. $ $ % Adjusted EBITDA $65.6 $ % Adjusted EBITDA margin 11.9% 10.9% +100 bps Non-GAAP earnings per share - diluted $ $ % Free cash flow $60.9 $ %» Higher volumes and mix of smart solutions drove increased non-gaap operating income and adjusted EBITDA» Non-GAAP net income reflects lower non-gaap effective tax rate from discrete tax benefits and timing and mix of income» Increase in free cash flow due to improved profitability and changes in working capital Reconciliation of GAAP to Non-GAAP results in Appendix and also available on our website. 1. Non-GAAP net income excludes $30 million, or $0.77 per share, charge related to the U.S. Tax Act. Q Earnings Conference Call 7 Q Earnings Presentation 7
8 REVENUE YEAR-OVER-YEAR BRIDGE Q4 17 $495.7 $43.0 $14.8 ($1.1) ($1.7) $ % (in cc) + 17% (in cc) - 1% (in cc) - 1% (in cc) Q Electricity Gas Water FX Q Chart in Millions, Q4 16 and Q4 17 totals reflect actual currencies; all variances other than FX exclude currency impact Q Earnings Conference Call 8 Q Earnings Presentation 8
9 NON-GAAP EPS YEAR-OVER-YEAR BRIDGE Q4 17 $0.25 $0.01 $0.16 $1.01 $0.68 ($0.09) Increased smart volumes & mix Additional R&D and sales and mktg supporting new solutions Mix of income by jurisdiction, favorable tax audit settlement and lower valuation allowance Q Higher Gross Profit Higher Operating Expense Reduced Other Expense Lower Lower Taxes Tax Rate Q Q4 16 and Q4 17 totals reflect actual currencies; all variances other than FX exclude currency impact Q Earnings Conference Call 9 Q Earnings Presentation 9
10 ELECTRICITY SEGMENT - Q4 17 REVENUE, GROSS MARGIN AND NON-GAAP OPERATING MARGIN $ in millions, actual currency $ % 9.2% $ % 15.1%» Revenue +20% and +17% in constant currency Growth in North America and EMEA smart solutions Riva deployments ramping in North America Linky shipments continue to accelerate in EMEA Recovered majority of Q3 17 delayed shipments» Gross margin +360 bps Favorable smart vs standard mix» Non-GAAP operating margin +590 bps Higher gross profit driven by smart solutions Increased operating leverage Q4'16 Q4'17 Revenue Gross Margin Non-GAAP Op Inc Margin Reconciliation of GAAP to Non-GAAP results in Appendix and also available on our website Q Earnings Conference Call 10 Q Earnings Presentation 10
11 GAS SEGMENT Q4 17 REVENUE, GROSS MARGIN AND NON-GAAP OPERATING MARGIN $ in millions, actual currency $136 $ % 31.9% 17.2% 13.1% Q4'16 Q4'17» Revenue +2% and -1% in constant currency Riva deployments ramping in North America Accelerating Gazpar smart meters in France Recovered majority of Q3 17 delayed shipments Offset by lower North America standard meter shipments following completion of a large project» Gross margin down 260 bps Greater mix of meters vs. modules Higher costs with manufacturing transitions» Non-GAAP operating margin down 410 bps Lower gross profit Higher operating expenses Revenue Gross Margin Non-GAAP Op Inc Margin Reconciliation of GAAP to Non-GAAP results in Appendix and also available on our website Q Earnings Conference Call 11 Q Earnings Presentation 11
12 WATER SEGMENT Q4 17 REVENUE, GROSS MARGIN AND NON-GAAP MARGIN OPERATING $ in millions, actual currency $114 $ % 28.6% 9.2% 4.6% Q4'16 Q4'17» Revenue +3% and -1% in constant currency Continued improvements in Latin America and APAC North American and EMEA project delays Riva deliveries ramping up in North America» Gross margin down 460 bps Product mix and lower volumes» Non-GAAP operating margin down 460 bps Primarily reflects fall through of lower gross profit» Steady sequential backlog growth since Q2 16 Supports fundamental strength in Water Revenue Gross Margin Non-GAAP Op Inc Margin Reconciliation of GAAP to Non-GAAP results in Appendix and also available on our website Q Earnings Conference Call 12 Q Earnings Presentation 12
13 SSNI ACQUISITION SYNERGIES UPDATE Completed acquisition on Jan 5, 2018» Confirming original $50M cost synergy estimate - Public company costs, personnel and facility overlap - ~$60M of up-front cash costs primarily in Q1/Q2 (non-gaap) - ~$10M of Year 1 Synergies ramp up in 2H 18» Temporal dilutive impacts in 2018; peak in Q Added interest expense and stock-based compensation costs - Full impact of people & facility costs during integration - Impacts for converting to GAAP revenues under PPA and ASC606» Acquired backlog adds over $1.2B - Subject to purchase accounting and ASC 605/606 adjustments - Will provide updated estimate on Q1 18 call Confirming $50M of Run-Rate Cost Synergies by End of 2020 $20m 1 $50m $10 million of total expense savings estimated in FY 18 Q Earnings Conference Call 13
14 2018 RESTRUCTURING PLAN» New restructuring plan approved by Board of Directors to begin in 2018» Next phase of transformation to optimize supply chain, manufacturing, R&D, Sales and Marketing» $45 - $50 million of annualized savings anticipated by the end of 2020 (run rate)» Pre-tax restructuring charges expected to be between $100 - $110 million; recorded in Q1 18» Supports Itron s longer-term goals for EBITDA margin above mid-teen s Q Earnings Conference Call 14
15 2018 FINANCIAL GUIDANCE FY 2018 Q Revenue $ $2.43 billion $575 - $600 million Non-GAAP EPS $ $3.35 $ $0.15 Assumptions & commentary:» Average euro to U.S. dollar foreign currency exchange rate of $1.21» Average shares outstanding of ~40 million for the year» Non-GAAP effective tax rate for the year of ~28%» Total interest expense of ~$50 million, excluding amortization of debt issuance costs» EBITDA and EPS weighted to 2H 18 driven by supply chain benefits and acquisition synergies ramp in the second half These assumptions and commentary are forward-looking and reflect the estimated impacts of purchase accounting for the acquisition of Silver Spring Networks, adoption of the new revenue accounting standard and the U.S. Tax Cut and Jobs Act on our financial results and are subject to change. A reconciliation of forward-looking non-gaap diluted EPS to the GAAP diluted EPS has not been provided because we are unable to predict with reasonable certainty the potential amount or timing of restructuring and acquisition and integration-related expenses and their related tax effects without unreasonable effort. These items are uncertain, depend on various factors, and could have a material impact on GAAP results for the guidance period. Q Earnings Conference Call 15
16 APPENDIX» Revenue - FX impact summary» FY 17 Results» GAAP to Non-GAAP Reconciliations
17 REVENUE - FX IMPACT SUMMARY $ in millions Average Euro/USD: $1.18 Q4 17 vs $1.08 Q4 16 Average Euro/USD: $1.13 FY 17 vs $1.11 FY 16 Revenue Q4'17 YoY Change YoY Change Excluding FX Electricity $ % +17.2% Gas $ % -0.8% Water $ % -1.4% Total $ % +7.9% Revenue FY 17 YoY Change YoY Change Excluding FX Electricity $1, % +8.5% Gas $ % -6.9% Water $ % -9.4% Total $2, % -0.3% Q Earnings Conference Call 17 Q Earnings Presentation 17
18 CONSOLIDATED GAAP RESULTS FY 17 $ in millions (except per share amounts) FY 2017 FY 2016 Change Revenue $2,018.2 $2, % Growth in constant currency --% Gross margin 33.5% 32.8% +70 bps Operating income $151.4 $ % Net income attributable to Itron, Inc. $ $ % Earnings per share - diluted $ $ % Cash provided by operating activities $191.4 $ %» Gross margin increased 70 bps due to higher volumes and mix of smart solutions and insurance recovery» Higher operating income driven by improved gross profit, lower restructuring and G&A expenses» GAAP net income and diluted EPS reflect higher operating income» Increased cash from operating activities improved profitability and changes in working capital Reconciliation of GAAP to Non-GAAP results in Appendix and also available on our website. 1. GAP net income includes $30 million, or $0.77 per share, charge related to the U.S. Tax Act. Q Earnings Conference Call 18 Q Earnings Presentation 18
19 CONSOLIDATED NON-GAAP RESULTS FY 17 $ in millions (except per share amounts) FY 2017 FY 2016 Change Non-GAAP operating income $195.8 $ % Non-GAAP operating margin 9.7% 8.5% +120 bps Adjusted EBITDA $227.9 $ % Adjusted EBITDA margin 11.3% 10.4% +90 bps Non-GAAP net income attributable to Itron, Inc. $ $ % Non-GAAP earnings per share - diluted $ $ % Free cash flow $141.9 $ %» Higher gross profit and reduced external services drove non-gaap operating income and adjusted EBITDA increase» Non-GAAP net income reflects higher operating income and a lower non-gaap effective tax rate» Increased free cash flow driven by improved profitability and changes in working capital Reconciliation of GAAP to Non-GAAP results in Appendix and also available on our website. 1. Non-GAAP net income excludes $30 million, $0.77 per share, charge related to the U.S. Tax Act. Q Earnings Conference Call 19 Q Earnings Presentation 19
20 REVENUE YEAR-OVER-YEAR BRIDGE FY 17 $2,013.2 $80.4 $11.6 $2,018.2 ($39.3) ($47.8) ~Flat (in cc) + 9% (in cc) - 7% (in cc) - 9% (in cc) FY 2016 Electricity Gas Water FX FY 2017 Chart in Millions, FY 16 and FY 17 totals reflect actual currencies; all variances other than FX exclude currency impact Q Earnings Conference Call 20 Q Earnings Presentation 20
21 NON-GAAP EPS YEAR-OVER-YEAR BRIDGE FY 17 $2.54 $0.23 $0.22 $0.07 $0.03 $0.23 $0.06 $3.06 Increased smart volumes, product mix and insurance recovery Lower legal and professional services fees Timing & mix of income by jurisdiction FY'16 Higher Gross Profit Reduced Operating Expense Higher Other Expense FX Lower Lower Taxes Tax Rate Higher Share Count FY'17 FY 16 and FY 17 totals reflect actual currencies; all variances other than FX exclude currency impact Q Earnings Conference Call 21 Q Earnings Presentation 21
22 ELECTRICITY SEGMENT - FY 17 REVENUE, GROSS MARGIN AND NON-GAAP OPERATING MARGIN $ in millions, actual currency $1,023 $ % 31.2% 9.5% 11.3%» Revenue +9% as reported and in constant currency Strong smart volumes in North America and EMEA Riva deployments ramping in North America Linky shipments continue to accelerate in EMEA» Gross margin +110 bps Higher smart volumes and mix» Non-GAAP operating margin +180 bps Increased revenue at higher gross margin Improved operating leverage FY 2016 FY 2017 Revenue Gross Margin Non-GAAP Op Inc Margin Reconciliation of GAAP to Non-GAAP results in Appendix and also available on our website Q Earnings Conference Call 22 Q Earnings Presentation 22
23 GAS SEGMENT FY 17 REVENUE, GROSS MARGIN AND NON-GAAP OPERATING MARGIN $ in millions, actual currency $569 $534» Revenue down 6% and 7% in constant currency Lower revenue in North America and EMEA Decrease due to timing of large projects Riva deployments ramping in North America 36.0% 35.8% 17.4% 15.9%» Gross margin down 20 bps Higher costs with manufacturing transitions Product mix with higher proportion of standard meters» Non-GAAP operating margin down 150 bps Fall through of lower revenue and gross margin Increased sales and marketing expenses FY 2016 FY 2017 Revenue Gross Margin Non-GAAP Op Inc Margin Reconciliation of GAAP to Non-GAAP results in Appendix and also available on our website Q Earnings Conference Call 23 Q Earnings Presentation 23
24 WATER SEGMENT FY 17 REVENUE, GROSS MARGIN AND NON-GAAP MARGIN OPERATING $ in millions, actual currency $505 $ % 35.7% 11.0% 10.6%» Revenue down 9% as reported and in constant currency Industry-related project delays in EMEA and North America Continued recovery of project funding in Latin America» Gross margin +150 bps Lower warranty costs and insurance recovery in Q2 17» Non-GAAP operating margin down 40 bps Decreased revenue partially offset by higher gross margin Increased sales and marketing expense FY 2016 FY 2017 Revenue Gross Margin Non-GAAP Op Inc Margin Reconciliation of GAAP to Non-GAAP results in Appendix and also available on our website Q Earnings Conference Call 24 Q Earnings Presentation 24
25 NON-GAAP FINANCIAL MEASURES» To supplement our consolidated financial statements presented in accordance with GAAP, we use certain non-gaap financial measures, including non-gaap operating expense, non-gaap operating income, non-gaap net income, non-gaap diluted EPS, adjusted EBITDA, constant currency and free cash flow. We provide these non-gaap financial measures because we believe they provide greater transparency and represent supplemental information used by management in its financial and operational decision making. We exclude certain costs in our non-gaap financial measures as we believe the net result is a measure of our core business. The company believes these measures facilitate operating performance comparisons from period to period by eliminating potential differences caused by the existence and timing of certain expense items that would not otherwise be apparent on a GAAP basis. Non-GAAP performance measures should be considered in addition to, and not as a substitute for, results prepared in accordance with GAAP. Our non-gaap financial measures may be different from those reported by other companies. A more detailed discussion of why we use non-gaap financial measures, the limitations of using such measures, and reconciliations between non-gaap and the nearest GAAP financial measures are included in the quarterly earnings press release. Q Earnings Conference Call 25 Q Earnings Presentation 25
26 GAAP TO NON-GAAP RECONCILIATIONS Q Earnings Conference Call 26 Q Earnings Presentation 26
27 GAAP TO NON-GAAP RECONCILIATIONS Q Earnings Conference Call 27
28 GAAP TO NON-GAAP RECONCILIATIONS Q Earnings Conference Call 28
29 THANK YOU INVESTOR RELATIONS CONTACTS Barbara Doyle Vice President, Investor Relations Rebecca Hussey Manager, Investor Relations
Third Quarter 2017 Earnings Conference Call November 1, 2017
Philip Mezey President and Chief Executive Officer Joan Hooper Senior Vice President and Chief Financial Officer Tom Deitrich Executive Vice President and Chief Operating Officer Barbara Doyle Vice President,
More informationFirst Quarter 2018 Earnings Conference Call May 14, 2018
Philip Mezey President and Chief Executive Officer Joan Hooper Senior Vice President and Chief Financial Officer Tom Deitrich Executive Vice President and Chief Operating Officer Barbara Doyle Vice President,
More informationSecond Quarter 2017 Earnings Conference Call August 2, 2017
Philip Mezey President and Chief Executive Officer Joan Hooper Senior Vice President and Chief Financial Officer Barbara Doyle Vice President, Investor Relations Second Quarter 2017 Earnings Conference
More informationFourth Quarter & Year-End 2018 Earnings Conference Call February 27, 2019
Philip Mezey President and Chief Executive Officer Joan Hooper Senior Vice President and Chief Financial Officer Tom Deitrich Executive Vice President and Chief Operating Officer Kenneth Gianella Vice
More informationThird Quarter 2018 Earnings Conference Call November 5, 2018
Philip Mezey President and Chief Executive Officer Joan Hooper Senior Vice President and Chief Financial Officer Tom Deitrich Executive Vice President and Chief Operating Officer Kenneth Gianella Vice
More informationInvestor Update Philip Mezey, President and Chief Executive Officer
Investor Update Philip Mezey, President and Chief Executive Officer Barbara Doyle, Vice President, Investor Relations March 2018 FORWARD LOOKING STATEMENTS Certain matters in this presentation and being
More informationInvestor Update. Joan Hooper, Senior Vice President and Chief Financial Officer. Ken Gianella, Vice President, Investor Relations.
Investor Update Joan Hooper, Senior Vice President and Chief Financial Officer Ken Gianella, Vice President, Investor Relations November 2018 FORWARD LOOKING STATEMENTS Certain matters in this presentation
More informationItron Announces Second Quarter 2016 Financial Results
September 1, 2016 Itron Announces Second Quarter 2016 Financial Results Updates Full-Year 2016 Guidance to Reflect Strong Business Momentum Announces New Restructuring Projects; Targeting Additional Annualized
More informationEarnings Call Presentation
Exhibit 99.2 February 27, 2017 Earnings Call Presentation 4 th Quarter 2016 Safe Harbor Statement 2 Our disclosures in this presentation, including without limitation, those relating to future financial
More informationItron Announces Second Quarter 2015 Financial Results
August 5, 2015 Itron Announces Second Quarter 2015 Financial Results LIBERTY LAKE, Wash.--(BUSINESS WIRE)-- Itron, Inc. (NASDAQ:ITRI) announced today financial results for its second quarter and six months
More informationZebra Technologies Second-Quarter 2018 Results. August 7, 2018
Zebra Technologies Second-Quarter 2018 Results August 7, 2018 Safe Harbor Statement Statements made in this presentation which are not statements of historical fact are forward-looking statements and are
More informationZebra Technologies Third-Quarter 2018 Results. November 6, 2018
Zebra Technologies Third-Quarter 2018 Results November 6, 2018 1 Safe Harbor Statement Statements made in this presentation which are not statements of historical fact are forward-looking statements and
More informationSafe Harbor and Non-GAAP Measures
Safe Harbor and Non-GAAP Measures Forward-Looking Statements This presentation contains statements about future events and expectations that constitute forward-looking statements. Forward-looking statements
More informationZEBRA TECHNOLOGIES FIRST QUARTER 2016 RESULTS May 10, 2016
ZEBRA TECHNOLOGIES FIRST QUARTER 2016 RESULTS May 10, 2016 Anders Gustafsson Chief Executive Officer Mike Smiley Chief Financial Officer 2 Safe Harbor Statement Statements made in this presentation which
More informationEarnings Call Presentation
Exhibit 99.2 May 1, 2017 Earnings Call Presentation 1 st Quarter 2017 Safe Harbor Statement 2 Our disclosures in this presentation, including without limitation, those relating to future financial results
More informationFirst Quarter 2018 Conference Call
First Quarter 2018 Conference Call Investor Presentation St. Paul, MN March 29, 2018 Safe Harbor & Regulation G 2 Safe Harbor Statement Certain matters discussed today may include 'forward looking statements'
More informationInvestment Community Conference Call
DieboldNixdorf.com Investment Community Conference Call Third Quarter, 2018 Earnings October 31, 2018 Use of non-gaap Financial Information To supplement our condensed consolidated financial statements
More informationItron, Inc. Comparison of Key 2015 Financial Metrics to Preliminary Results Announced February 17, Total operating expenses 486, ,839
Itron, Inc. Comparison of Key 2015 Financial Metrics to Preliminary Results Announced February 17, 2016 (Unaudited, in thousands, except per share data) (announced Feb. 17, 2016) Preliminary FY 2015 Final
More information4Q 2017 Highlights and Operating Results
4Q 2017 Highlights and Operating Results January 30, 2018 1 4Q 2017 Highlights and Operating Results Table of Contents Page(s) 1 Sales Overview 4-8 2 Financial Performance Trends 9-16 3 Leverage Metrics
More informationZEBRA TECHNOLOGIES SECOND-QUARTER 2016 RESULTS. August 9, 2016
ZEBRA TECHNOLOGIES SECOND-QUARTER 2016 RESULTS August 9, 2016 Anders Gustafsson Chief Executive Officer Mike Smiley Chief Financial Officer 2 Safe Harbor Statement Statements made in this presentation
More information2018 FOURTH QUARTER EARNINGS CALL
NORTH AMERICA S LEADING BUILDING MATERIALS DISTRIBUTOR RESIDENTIAL COMMERCIAL INTERIOR SOLAR 2018 FOURTH QUARTER EARNINGS CALL Forward Looking Statements / Non-GAAP Measures This presentation contains
More information3Q 2018 Highlights and Operating Results. Products. Technology. Services. Delivered Globally.
3Q 2018 Highlights and Operating Results Products. Technology. Services. Delivered Globally. Table of Contents Page 3 Safe Harbor Statement and Non-GAAP Financial Measures 4 Sales Overview 9 Overview of
More informationSafe Harbor Statement
Safe Harbor Statement Statements made in this presentation which are not statements of historical fact are forward-looking statements and are subject to the safe harbor provisions created by the Private
More informationQ4 Fiscal Year 2018 Investor Presentation Financial Results Conference Call
May Sept 30, 2018 2017 Q4 Fiscal Year 2018 Investor Presentation Financial Results Conference Call Mark D. Morelli President and Chief Executive Officer Gregory P. Rustowicz Vice President Finance & Chief
More informationFebruary 21, Conduent Q4 & FY 2017 Earnings Results
February 21, 2018 Conduent Q4 & FY 2017 Earnings Results Cautionary Statements Forward-Looking Statements This report contains forward-looking statements that involve risks and uncertainties. These statements
More informationFourth Quarter and Full Year 2017 Conference Call
Fourth Quarter and Full Year 2017 Conference Call Investor Presentation St. Paul, MN January 24, 2018 Safe Harbor & Regulation G 2 Safe Harbor Statement Certain matters discussed today may include 'forward
More informationInvestment Community Conference Call
DieboldNixdorf.com Investment Community Conference Call Second Quarter, 2018 Earnings August 1, 2018 Use of Non-GAAP Financial Information To supplement our condensed consolidated financial statements
More informationFIRST SOLAR Q3 16 EARNINGS CALL
FIRST SOLAR Q3 16 EARNINGS CALL IMPORTANT INFORMATION Forward Looking Statements This presentation contains forward-looking statements which are made pursuant to the safe harbor provisions of the Private
More informationQ3 Fiscal Year 2018 Investor Presentation Financial Results Conference Call
February Sept 6, 2018 2017 Q3 Fiscal Year 2018 Investor Presentation Financial Results Conference Call Mark D. Morelli President and Chief Executive Officer Gregory P. Rustowicz Vice President Finance
More informationEarnings Conference Call
FOURTH QUARTER 2018 Earnings Conference Call Patrick Harshman, President & CEO Sanjay Kalra, CFO 2019 Harmonic Inc. All rights 2019 reserved Harmonic worldwide. Inc. All rights reserved worldwide. February
More informationMylan: Q EARNINGS August 8, Q Earnings All Results are Unaudited
Mylan: Q2 2018 EARNINGS August 8, 2018 Q2 2018 Earnings All Results are Unaudited Forward-Looking Statements This presentation contains forward-looking statements. These statements are made pursuant to
More information4Q 2018 Highlights and Operating Results. Products. Technology. Services. Delivered Globally.
4Q 2018 Highlights and Operating Results Products. Technology. Services. Delivered Globally. Table of Contents Page 3 Safe Harbor Statement and Non-GAAP Financial Measures 4 Sales Overview 9 Overview of
More informationEFI Q Earnings Call. July 20, 2015
EFI Q2 2015 Earnings Call July 20, 2015 Safe Harbor For Forward-Looking Statements Certain statements in this press release are forward-looking statements within the meaning of Section 27A of the Securities
More informationQ2 FY19 Supplemental Earnings Slides. October 29, 2018
Q2 FY19 Supplemental Earnings Slides October 29, 2018 Safe Harbor Statement Some of the matters discussed in this presentation contain forward-looking statements regarding the Company s future business
More information2018 First Quarter Financial Results
2018 First Quarter Financial Results April 30, 2018 2016 First Data Corporation. All Rights Reserved. Safe Harbor Statements in this presentation regarding First Data Corporation s business which are not
More informationConference Call Brooks Automation First Quarter FY19 Financial Results. February 5, 2019
Conference Call Brooks Automation First Quarter FY19 Financial February 5, 2019 1 Safe Harbor Statement Safe Harbor Statement under the U.S. Private Securities Litigation Reform Act of 1995; certain matters
More informationTrimble Second Quarter 2018 Results Summary
Trimble Second Quarter 2018 Results Summary Forward-looking statements Certain statements made in this presentation and any subsequent Q&A period are forward-looking statements, within the meaning of Section
More information4 th Quarter Fiscal Copyright 2011 by Brooks Automation, Inc. Proprietary Information 1
4 th Quarter Fiscal 2011 Financial Results Conference Call November 10, 2011 Copyright 2011 by Brooks Automation, Inc. Proprietary Information 1 Safe Harbor Statement Safe Harbor Statement under the U.S.
More informationTHIRD QUARTER 2015 EARNINGS CALL //// OCTOBER 30, 2015
SEATING FINISHING ACOUSTICS COMPONENTS THIRD QUARTER 2015 EARNINGS CALL //// OCTOBER 30, 2015 David Westgate, Chief Executive Officer Sarah Sutton, Chief Financial Officer Jeffry Quinn, Chairman Chad Paris,
More informationMcKesson Corporation Fiscal 2018 Financial Performance Fiscal 2019 Annual Outlook. Financial Results and Company Highlights May 24, 2018
McKesson Corporation Fiscal 2018 Financial Performance Fiscal 2019 Annual Outlook Financial Results and Company Highlights Forward-Looking Statements Some of the information in this presentation is not
More informationTENNANT COMPANY. Earnings Release Conference Call First Quarter Monday, April 23, 2018
Earnings Release Conference Call First Quarter 2018 Monday, April 23, 2018 1 On the Call Today Chris Killingstad President and CEO Tom Paulson Senior VP, CFO 2 Forward Looking Statements & Non-GAAP Measures
More informationMcKesson Corporation Q2 Fiscal 2019 Financial Performance. Financial Results and Company Highlights October 25, 2018
McKesson Corporation Q2 Fiscal 2019 Financial Performance Financial Results and Company Highlights October 25, 2018 Forward-Looking Statements Some of the information in this presentation is not historical
More informationTHIRD QUARTER 2016 EARNINGS CALL //// NOVEMBER 4, 2016
SEATING FINISHING ACOUSTICS COMPONENTS THIRD QUARTER 2016 EARNINGS CALL //// NOVEMBER 4, 2016 Jeffry Quinn, Chairman & Chief Executive Officer Sarah Lauber, Senior Vice President & Chief Financial Officer
More informationFIRST SOLAR Q1 17 EARNINGS CALL
FIRST SOLAR Q1 17 EARNINGS CALL IMPORTANT INFORMATION Forward Looking Statements This presentation contains forward-looking statements which are made pursuant to the safe harbor provisions of the Private
More informationFOURTH QUARTER FISCAL YEAR May 18, 2017
FOURTH QUARTER FISCAL YEAR 2017 FINANCIAL RESULTS May 18, 2017 CAUTIONARY STATEMENT UNDER THE PRIVATE SECURITIES LITIGATION REFORM ACT This presentation and discussion contains certain forward looking
More informationITRON, INC. CONSOLIDATED STATEMENTS OF OPERATIONS
, INC. CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited, in thousands, except per share data) Revenues $ 447,536 $ 571,640 Cost of revenues 307,413 388,535 Gross profit 140,123 183,105 Operating expenses
More informationREXNORD Third Quarter Fiscal Year 2017 Financial Results. February 2, 2017
REXNORD Third Quarter Fiscal Year 2017 Financial Results February 2, 2017 Cautionary Statement Under the Private Securities Litigation Reform Act This presentation and discussion contains certain forward-looking
More informationITRON, INC. CONSOLIDATED STATEMENTS OF OPERATIONS
, INC. CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited, in thousands, except per share data) Revenues $ 474,795 $ 447,536 Cost of revenues 320,260 307,413 Gross profit 154,535 140,123 Operating expenses
More informationITRON, INC. CONSOLIDATED STATEMENTS OF OPERATIONS
, INC. CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited, in thousands, except per share data) Revenues $ 489,353 $ 482,175 $ 964,148 $ 929,711 Cost of revenues 326,312 322,587 646,572 630,000 Gross profit
More informationITRON, INC. CONSOLIDATED STATEMENTS OF OPERATIONS
, INC. CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited, in thousands, except per share data) Revenues $ 571,640 $ 563,691 Cost of revenues 388,535 378,713 Gross profit 183,105 184,978 Operating expenses
More informationFirst Quarter 2018 May 3, 2018
First Quarter 2018 May 3, 2018 Safe Harbor Please note that in this presentation, we may discuss events or results that have not yet occurred or been realized, commonly referred to as forward-looking statements.
More informationFOURTH QUARTER 2017 EARNINGS PRESENTATION FEBRUARY 8, 2018
FOURTH QUARTER 2017 EARNINGS PRESENTATION FEBRUARY 8, 2018 REGARDING FORWARD-LOOKING STATEMENTS Statements contained in this press release that are not historical facts are forward-looking statements.
More informationPTC PREPARED REMARKS THIRD QUARTER FISCAL 2018 JULY 18, 2018
PTC PREPARED REMARKS THIRD QUARTER FISCAL 2018 JULY 18, 2018 Please refer to the updated Important Disclosures section of these prepared remarks for important information about our operating metrics (including
More informationQ2 FY18 Earnings Release Supplemental Material March 5, 2018
Q2 FY18 Earnings Release Supplemental Material March 5, 2018 Safe Harbor Statement Certain statements made within this presentation may constitute forward-looking statements within the meaning of the Private
More informationMylan Q EARNINGS November 5, Q Earnings All Results are Unaudited
Mylan Q3 EARNINGS November 5, Q3 Earnings All Results are Unaudited Forward-Looking Statements This presentation contains forward-looking statements. These statements are made pursuant to the safe harbor
More informationSecond Quarter and Six Months August 2, 2017
Second Quarter and Six Months 2017 August 2, 2017 Welcome and Participants Vyomesh Joshi President & Chief Executive Officer John McMullen Executive Vice President & Chief Financial Officer Patrick Rogers
More informationBrooks Automation, Inc. Financial Results Conference Call
Brooks Automation, Inc. 1st Quarter Fiscal2014 Financial Results Conference Call February 6, 2014 Safe Harbor Statement Safe Harbor Statement under the U.S. Private Securities Litigation Reform Act of
More information2Q 2017 Highlights and Operating Results
2Q 2017 Highlights and Operating Results July 25, 2017 1 2Q 2017 Highlights and Operating Results Table of Contents Page(s) 1 Sales Overview and Highlights 4-5 2 NSS Overview 6-7 3 EES Overview 8-9 4 UPS
More informationITRON, INC. CONSOLIDATED STATEMENTS OF OPERATIONS
, INC. CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited, in thousands, except per share data) Revenues $ 504,063 $ 615,555 $ 1,654,843 $ 1,791,647 Cost of revenues 332,266 438,559 1,103,196 1,237,722 Gross
More informationITRON, INC. CONSOLIDATED STATEMENTS OF OPERATIONS
, INC. CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited, in thousands, except per share data) Revenues $ 523,335 $ 642,477 $ 2,178,178 $ 2,434,124 Cost of revenues 359,835 449,944 1,463,031 1,687,666 Gross
More informationITRON, INC. CONSOLIDATED STATEMENTS OF OPERATIONS
, INC. CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited, in thousands, except per share data) Revenues $ 470,103 $ 489,353 $ 918,350 $ 964,148 Cost of revenues 351,532 326,312 661,580 646,572 Gross profit
More informationSafe Harbor and Non-GAAP Measures
Safe Harbor and Non-GAAP Measures Forward-Looking Statements This presentation contains statements about future events and expectations that constitute forward-looking statements. Forward-looking statements
More informationEFI Q Earnings Call. April 23, 2015
EFI Q1 2015 Earnings Call April 23, 2015 Safe Harbor For Forward-Looking Statements Certain statements in this presentation are forward-looking statements within the meaning of Section 27A of the Securities
More informationFourth Quarter 2016 Results
Fourth Quarter 2016 Results February 23, 2017 Eddie Edwards President and Chief Executive Officer Mark Olson Executive Vice President and Chief Financial Officer 1 Safe Harbor Caution Regarding Forward
More informationSafe Harbor and Non-GAAP Measures
Safe Harbor and Non-GAAP Measures Forward-Looking Statements This presentation contains statements about future events and expectations that constitute forward-looking statements. Forward-looking statements
More informationQ1 Fiscal Year 2018 Financial Results Conference Call August 1, 2017
Q1 Fiscal Year 2018 Financial Results Conference Call August 1, 2017 Mark D. Morelli President & Chief Executive Officer Gregory P. Rustowicz Vice President Finance & Chief Financial Officer 1 Safe Harbor
More informationThird-Quarter 2014 Results. October 22, 2014
Third-Quarter 2014 Results October 22, 2014 Safe Harbor This presentation includes forward-looking statements, which are statements that are not historical facts, including statements that relate to the
More informationCFO Commentary on Fourth Quarter and Fiscal Year 2015 Preliminary Financial Results
Juniper Networks, Inc. 1133 Innovation Way Sunnyvale, CA 94089 January 27, 2016 CFO Commentary on Fourth Quarter and Fiscal Year 2015 Preliminary Financial Results Related Information The following commentary
More informationQ215 Earnings Call. August 5, Silver Spring Networks. All rights reserved.
Earnings Call August 5, 2015 Forward-Looking Statements This document contains forward-looking statements that involve risks and uncertainties. These forwardlooking statements include statements regarding
More informationSyneos Health. Q Financial Results. August 2, 2018
Syneos Health Q2 2018 Financial Results August 2, 2018 Forward-Looking Statements, Non-GAAP Financial Measures, and Basis of Financial Presentation Forward-Looking Statements Except for historical information,
More information2018 Q3 Earnings Call. November 5, 2018
208 Q3 Earnings Call November 5, 208 Forward-Looking Statements Certain statements in this presentation constitute forward-looking statements within the meaning of the U.S. Private Securities Litigation
More informationQ Earnings Conference Call
Q3 2016 Earnings Conference Call SAFE HARBOR FORWARD-LOOKING STATEMENTS All presentations contain certain forward-looking information within the meaning of the Private Securities Litigation Reform Act
More informationSafe Harbor. Non-GAAP Financial Information
1 Safe Harbor This document contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including financial projections subject to risks, uncertainties
More informationZEBRA TECHNOLOGIES. William Blair Growth Stock Conference June 16, 2016
ZEBRA TECHNOLOGIES William Blair Growth Stock Conference June 16, 2016 Safe Harbor Statement Statements made in this presentation which are not statements of historical fact are forward-looking statements
More informationSupplementary Materials. For use in conjunction with the November 2, 2016 Earnings Call
Supplementary Materials For use in conjunction with the November 2, 2016 Earnings Call 1 Safe Harbor This document contains forward-looking information and financial projections subject to risks, uncertainties
More information1Q 2018 Highlights and Operating Results
1Q 2018 Highlights and Operating Results April 26, 2018 1 Table of Contents Page(s) 4 Announced Agreements to Acquire Australia and New Zealand Security Businesses 5-9 Sales Overview 10-17 Financial Performance
More informationPTC SECOND QUARTER FISCAL 2017 PREPARED REMARKS APRIL 19, 2017
PTC SECOND QUARTER FISCAL 2017 PREPARED REMARKS APRIL 19, 2017 Please refer to the Important Disclosures section of these prepared remarks for important information about our operating metrics (including
More informationQ Earnings Call
Q1 2018 Earnings Call May 2, 2018 Copyright 2017 IQVIA. All rights reserved. Legal This presentation should be viewed in conjunction with IQVIA s Q1 2018 earnings call Safe Harbor Statement for Forward-Looking
More information4Q 2016 Earnings Call February 28, :30am ET
2016 Earnings Call February 28, 2017 8:30am ET 1 Safe Harbor Statement Certain statements made within this presentation contain forward-looking statements, within the meaning of the Private Securities
More informationThird Quarter Earnings November 8, 2018
Third Quarter Earnings November 8, 2018 Forward Looking Statements & Disclosures Forward Looking Statement: With the exception of the historical information contained in this presentation, the matters
More informationQuarterly Update FY16 Fourth Quarter. November 8, 2016
Quarterly Update FY16 Fourth Quarter November 8, 2016 Johnson Controls International plc Cautionary Statement Regarding Forward-Looking Statements Johnson Controls International plc has made statements
More informationWe Distribute Products That Deliver Energy to the World. NOW Inc., Fourth Quarter and Full-Year 2017 Review & Key Takeaways
We Distribute Products That Deliver Energy to the World NOW Inc., Fourth Quarter and Full-Year 2017 Review & Key Takeaways Forward Looking Statements Statements made in the course of this presentation
More informationSyneos Health. Q4 and Full Year 2017 Financial Results. February 28, 2018
Syneos Health Q4 and Full Year 2017 Financial Results February 28, 2018 Forward-Looking Statements & Non-GAAP Financial Measures Forward-Looking Statements Except for historical information, all of the
More informationMYERS INDUSTRIES, INC. MARCH 9, 2017 FOURTH QUARTER & FULL YEAR EARNINGS PRESENTATION
MYERS INDUSTRIES, INC. MARCH 9, 2017 FOURTH QUARTER & FULL YEAR EARNINGS PRESENTATION SAFE HARBOR STATEMENT Statements in this presentation concerning the Company s goals, strategies, and expectations
More informationPTC PREPARED REMARKS FOURTH QUARTER AND FULL YEAR FISCAL 2017 OCTOBER 25, 2017
PTC PREPARED REMARKS FOURTH QUARTER AND FULL YEAR FISCAL 2017 OCTOBER 25, 2017 Please refer to the Important Disclosures section of these prepared remarks for important information about our operating
More informationCFO Commentary on Second Quarter 2017 Preliminary Financial Results
Juniper Networks, Inc. 1133 Innovation Way Sunnyvale, CA 94089 July 25, 2017 CFO Commentary on Second Quarter 2017 Preliminary Financial Results Related Information The following commentary is provided
More informationQ Earnings. January 25, 2017
Q1 2017 Earnings January 25, 2017 Forward-Looking Statements and Non-GAAP Measures Forward-Looking Statements This presentation contains certain forward-looking statements within the meaning of the U.S.
More informationBruker Corporation (NASDAQ: BRKR)
Bruker Corporation (NASDAQ: BRKR) Q4 2017 Earnings Presentation February 8, 2018 Frank Laukien, President & CEO Anthony Mattacchione, SVP & CFO Miroslava Minkova, Head of Investor Relations Innovation
More informationSecond Quarter Investor Review
Second Quarter 2018 Investor Review Presented July 27, 2018 1 Safe Harbor This presentation contains forward-looking statements within the meaning of Section 27 A of the Securities Act of 1933, as amended,
More informationBrooks Automation, Inc. 4 th Quarter Fiscal 2013 Financial Results Conference Call
Brooks Automation, Inc. 4 th Quarter Fiscal 2013 Financial Results Conference Call November 14, 2013 Safe Harbor Statement Safe Harbor Statement under the U.S. Private Securities Litigation Reform Act
More informationFourth Quarter 2015 Supplementary Slides
Fourth Quarter 2015 Supplementary Slides February 17, 2016 2016 SunPower Corporation 2016 SunPower Corporation 1 Safe Harbor Statement This presentation contains forward-looking statements within the meaning
More informationThird Quarter 2016 Supplementary Slides
Third Quarter 2016 Supplementary Slides November 9, 2016 2016 SunPower Corporation 2016 SunPower Corporation 1 Safe Harbor Statement This presentation contains forward-looking statements within the meaning
More information2Q 2017 Earnings Call August 8, :00pm ET
2017 Earnings Call August 8, 2017 5:00pm ET 1 Safe Harbor Statement Certain statements made within this presentation contain forward-looking statements, within the meaning of the Private Securities Litigation
More informationSECOND QUARTER FISCAL YEAR 2019 FINANCIAL RESULTS. October 31, 2018
SECOND QUARTER FISCAL YEAR 2019 FINANCIAL RESULTS October 31, 2018 CAUTIONARY STATEMENT UNDER THE PRIVATE SECURITIES LITIGATION REFORM ACT This presentation and discussion contains certain forward-looking
More informationFourth Quarter 2016 Conference Call. January 25, 2017
Fourth Quarter 2016 Conference Call January 25, 2017 Forward-Looking Statements SAFE HARBOR STATEMENT This conference call contains forward-looking statements within the meaning of the Private Securities
More informationSecond Quarter 2013 Results. July 25, 2013
Second Quarter 2013 Results July 25, 2013 Disclaimer This presentation may contain forward-looking statements with respect to the financial condition, results of operation, plans, objectives, future performance
More informationEFI Q Earnings Call. July 17, 2014
EFI Q2 2014 Earnings Call July 17, 2014 Safe Harbor For Forward-Looking Statements Certain statements in this press release are forward-looking statements within the meaning of Section 27A of the Securities
More informationTHIRD QUARTER FISCAL YEAR 2018 Earnings Conference Call & Presentation. August 7, 2018 at 9:00 a.m. CT (10:00 a.m. ET)
THIRD QUARTER FISCAL YEAR 2018 Earnings Conference Call & Presentation August 7, 2018 at 9:00 a.m. CT (10:00 a.m. ET) 1 Third Quarter Fiscal Year 2018 Welcome to Nexeo s Earnings Conference Call and Presentation
More informationQ Supplemental Financial Information. February 1, 2018
February 1, 2018 This presentation may contain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These statements relate to future events or our future
More informationCastlight Health. Q Financial & Business Update May 10, 2018 Q1 FY
Castlight Health Q1 2018 Financial & Business Update May 10, 2018 Q1 FY 2018 1 Safe Harbor Statement This presentation contains forward-looking statements regarding our trends, our strategies and the anticipated
More information